A Patek Philippe Sky Moon Tourbillon in yellow gold, Ref. 5002, sold for $1.2 million at the Patrizzi & Co. auction in New York on October 7. This is the highest price paid for a wristwatch at auction since the beginning of the recession. The watch was purchased by a customer in Europe. CEO Osvaldo Patrizzi said “In the current global recession, this $1.2 million sale result is extraordinary. This auction demonstrates that while demand for mid-level watches for collectors is softening, extraordinary, very rare, limited-edition pieces are still in demand and in some occasions increasing in value.”
Mr. Patrizzi also noted that aside from the Sky Moon Tourbillon going to Europe, the other top pieces in the sale went to bidders in Taiwan, Hong Kong and China. The second highest price was brought by a Patek Philippe Commemorative Minute Repeater, Ref. 5079-010, originally sold December 1, 2004. The yellow gold piece was produced in a limited series of 5 examples for the 50th anniversary of George Pragnell Jewellers in Stratford-Upon-Avon, England. It sold for $360,000.
Rounding out the top 3 was a lovely Vacheron Constantin Skeleton Minute Repeater, Ref. 30030. This piece was produced in a limited series of 200 examples in 18k pink gold. Caliber 1755, named in honor of the year Vacheron Constantin was founded, was introduced in 1993. At 3.28 mm thick, the caliber is the world’s thinnest minute repeater. This timepiece realized $280,000.
You may click the images below to view larger versions. Complete sale results and many more images can be viewed at the Patrizzi & Co. website. The next Patrizzi & Co. auction in October 25 in Geneva.